How Earnings Season Is Measuring Up

2/7/2014 4:09PM

Christine Short, S&P Capital IQ director of global markets intelligence, joins the News Hub with a recap of earnings season and discusses the market outlook after what appears to be minimal impact from the January labor data.

This transcript has been automatically generated and may not be 100% accurate.

... I ... the ... Sabine better than expected so if I do the same time he said about the jobs full ... this morning's recall was the second that lackluster performance ... the good news is that month that sees me take in stride ... it makes sense of all that is Christine short ... Essen P Capital IQ director of global markets intelligence ... as they face a joining us ... thanks for having me ... say that a unity looking through some of the talking points in a sad to say you talk about the fact that it's ... been eight point nine the St ... on average the Essen P ... um ... that doesn't sound too bad ... but that the market's really really having a difficult times to begin the had a nice way of that ... what I said ... and doing spectacularly there they're actually up seven point five percent as of today the coming year over year basis ... aam and the highest growth rate we've actually seen since the fourth quarter of twenty twelve so what was seen that reflected in the market if you look back over last couple of weeks when the market to an initial debt ... aam it was due to for manufacturing data on China ... that was the week of January twenty oh ... and then we have had a flurry ... of disappointing economic data ... in a ... new home sales were down we had durable goods orders that were down you know four percent ... on the initial jobless claims I looking so high ISN manufacturing the signaling slowing so ... I've been saying for the last year to you is that earnings aren't necessarily a primary indicator ... of the markets anymore it sort of a secondary indicator whereas any sort of economic data ... I the market to become very news driven anything out of the Fed is printing didn't drive the markets are not seeing those great earnings results reflecting ... at this point ... when oh why is that the kinds that you might too since it seems the central bank policy has become so ... integral to the way that the indices behaviors that pot or is this something else that that means that the committee because of the drive ... I think you're right I mean I think any you know the markets really hang on anymore defence that isn't really take that its troops in ... on an Eastern economic indicators there really weigh more heavily than than the surly the earnings reports ... I think you know when stocks certainly see a pop that baby B earnings but ... I think less attention has been paid to whether ... cut out companies be or miss on their estimates because we know Companies consort driveway that goes if they issue guiding that's ... very conservative then of course there can be and I'm not sure ... that investors are paying much attention to that data ... aam you know with that but I certainly think the fact that we are at ... twenty dollars and thirty two cents earnings per share for the fourth quarter which is an all time record for the Essen P five hundred ... is important to know you know we're seeing very strong earnings per share record levels ... ALM so that something that investors should be paying little more attention to him ... one quick last question to the state ... so those jobs and this is this a sign that the economy's effect we can we thought was to be the the the ... now I think are still making progress is slower progress yes those jobs numbers are I'm satisfactory we need to see those go up before going to see any sort of reflection and crew GDP ... a like you said uh hundred thirteen thousand on top of the seventy four thousand in all reported last month ... the sort of a double whammy this morning not only were January jobs found that the revision for December was in as much as everyone had hoped ... aam but I confess to get the slow progression I don't necessarily think that this means were heading into any sort of downturn ... on because previous to that we did see some very strong jobs number is I think one of the bright spot this morning was ... we didn't see unemployment is down to six point six percent we also stopped ... by job participation take up to fifty three percent felt ... there are still some decent bright spots among the data but I just think if so then be slow going into twenty fourteen ... and one a fairly be a terrible year but I don't think it's gonna be a standout year either ... let the sun today Christine thank you very much to time ... thanks again